Morgan Stanley sticks to growth forecast for Q3 laptop shipments
Central News Agency
2014-07-15 11:28 AM
Taipei, July 15 (CNA) Morgan Stanley has maintained its projection of 5 percent quarterly growth for worldwide notebook computer shipments in the third quarter of 2014 after the market rebounded to show marginal growth in the second quarter. The U.S. brokerage expected third-quarter notebook shipments from the top five original design manufacturers (ODMs) -- including Quanta Computer Inc., Compal Electronics Inc., Wistron Corp., Inventec Corp. and Pegatron Corp. -- to be around 36 million units. That compared with 34.4 million laptops shipped by the five Taiwanese ODMs in the April-June period, when they benefited from stable corporate demand and a recovery in the consumer market, the brokerage firm said. "Apart from stable corporate refresh demand, the consumer segment also performed better than expected, helped by good demand for low-priced models (2-in-1 notebooks and Chromebooks)," Grace Chen, a Morgan Stanley analyst in Taipei, wrote in a note to clients on Monday. For individual ODMs, Chen slightly lifted her projection for Compal's third-quarter notebook shipment growth by 2 percentage points to 8 percent sequentially, and raised Wistron's notebook shipment growth by 1 percentage point to 8 percent. The analyst trimmed her forecast for the quarterly growth of Pegatron's notebook shipments from 9 percent to 6 percent due to lower-than-expected results in the second quarter, and she expected notebook shipments by Quanta and Inventec to be flat or edge slightly higher. Compal, the world's No. 2 contract laptop PC maker, posted the highest sales in June of any of the five major ODMs on the back of large orders from Hewlett-Packard Co., according to analysts. Compal's consolidated sales for June totaled NT$76.71 billion (US$2.57 billion), up 12.8 percent from the previous month and up 34.6 percent year-on-year. The June sales were Compal's highest in 44 months. (By Jeffrey Wu)
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